January 2014 Posts

  • 3 Things When You Inherit an IRA

    Last year North Carolina passed legislation that provides added creditor protection for Individual Retirement Accounts (IRAs). ...
  • Step-Parents and Step-Children in Estate Planning

    Estate planning for blended families is critical to ensure that assets are distributed as intended. A spouse’s family members are not included under North Carolina intestacy laws. Without a will, individuals who die in the Tar Heel State may not effectively leave assets to non-blood relatives....
  • Pending Legislation May Change Veterans Service Pension Benefits

    Congress has a few pending law changes that may affect Veterans Service Pension Benefits. Current regulations do not penalize veterans for making gifts or other transfers of their assets any time prior to their application for veterans service pension benefits. ...
  • North Carolina Ranks in Top 15 for Trust Decanting

    Attorney Steven J. Oshins, the force behind the annual Domestic Asset Protection Trust and Dynasty Trust Rankings, released the inaugural Trust Decanting Rankings Chart. ...
  • Estate Planning and Real Estate Titles in North Carolina

    Some families attempt to manage their own estate planning. For those who own a home and plan to eventually leave the home to children or other relatives, they may change the way the property title is held in an effort to make the transfer of ownership easier upon their death. However, without the counsel of a North Carolina estate planning or tax lawyer, these do-it-yourself methods may result in significant tax liability for the children....
  • NC Living Will Possibly Invalid For Pregnant Women

    North Carolina is one of approximately two dozen other states where a living Will may not be valid for pregnant women. ...
  • Cost to Consider When Funding Pet Trusts: Pet Hospice

    Pet trusts offer animal owners a way to preserve assets for their pets’ benefit once the owners themselves pass away. In addition to designating a care provider, these estate planning tools help cover the costs for pet healthcare, food, living expenses, and basic enjoyment of life. A new trend is developing that pet owners should consider when deciding how much money to leave for their non-human family members: Pet hospice....
  • Mistakes in Beneficiary Designations

    Beneficiary designations are an important tool in estate planning – one must always remember that their terms trump the distributions provided in a decedent’s Will. Retirement accounts, life insurance, and other assets offer owners the power to entitle individuals to these assets upon the owner’s death. Errors could cost a surviving family member their expected share of a loved one’s estate, pass assets to an unintended party, incite family conflict, or cause unnecessary tax burdens for beneficiaries....